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22 May, 15:24

You invest 1300 in a account that pays an interest rate of 4.75% what's the balance after 5 years?

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  1. 22 May, 15:37
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    Total = Principal * (1 + rate) ^years

    Total = 1,300 * (1.0475) ^ 5

    Total = 1,300 * 1.2611599139

    Total = 1,639.5 1
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